ID: MRFR/HC/8947-CR | March 2021 | Region: Global | 90 pages
Global Epilepsy Devices Market was valued at USD 551.2 Million in 2019 and is expected to register a CAGR of 6.56% during the forecast period of 2020 to 2027.
According to the Mayo Clinic (US), epilepsy is a central nervous system (neurological) disorder in which brain activity becomes abnormal, causing seizures or periods of unusual behavior, sensations, and sometimes loss of awareness. Various types of epilepsy devices are available based on the technologies such as vagus nerve stimulation, responsive neurostimulation, deep brain stimulation, and others.
Epilepsy is a chronic disorder caused due to neurological complications. it is significantly prevalent and continuously increasing in the geriatric population. As per the 2018 study published in the Neuroepidemiology Journal, the prevalence ratio of active epilepsy in the general population was 6.4 per 1,000 individuals. In individuals aged 60 years or older, the ratio was 7.17 per 1,000 individuals. According to the Federal Interagency Forum on Aging-Related Statistics, 35.8% of people aged 85 years and above have moderate or severe memory impairment. Approximately twenty million Americans experience some form of neuropathy, and 16% of the US households contain an individual with brain impairment. According to World Population Prospects 2019 (United Nations, 2019), by 2050, 1 in 6 people in the world will be over the age of 65, up from 1 in 11 in 2019. The high prevalence of neurological disorders and rising geriatric population globally is anticipated to increase the growth rate of the Global Epilepsy Devices Market.
Epilepsy devices are used for detection as well as for therapeutic purposes. The major factors driving the growth of the epilepsy devices market are the growing prevalence of epilepsy amongst the geriatric population, increasing cases of brain injuries due to road accidents, a large patient pool suffering from neurological disorders and rising research funding in epilepsy. Tissue damage due to surgery and brain cancer also support the growth of the epilepsy devices market. The strategic decisions by major players operating in the global epilepsy devices market are anticipated to increase the lucrativeness over the forecast period. For instance, in May 2020, Natus Medical Incorporated (US) formed a partnership with Holberg EEG AS (Norway) to develop and distribute the AutoSCORE algorithm, which assists in diagnosing epilepsy. The collaborative agreements by leading players to maintain a global footprint is anticipated to grow the rate of growth for epilepsy devices market.
The growth of the global epilepsy devices market can be attributed to a large patient pool suffering from neurological disorders. According to the WHO, around 50 million people worldwide have epilepsy, making it one of the most common neurological diseases globally. The imminent and expanding need for novel therapies to solve epilepsy related problems are boosting the manufacturers to develop innovative products.
Global Epilepsy Devices Market Share, By Product Type, 2019 (%)
Source: MRFR Analysis
Global Epilepsy Devices Market has been divided based on Product Type, Technology, Seizure Detection and Prediction Devices, and End Use.
On the basis of product type, the global epilepsy devices market is segmented into wearable devices, conventional devices, and implantable devices. The increasing prevalence of epilepsy is driving the growth of this segment. The wearable devices segment is further segmented into watches, bracelets, camera devices, mattress devices, anti-suffocation pillows, and others. The conventional devices segment held the largest market share by product type, whereas the implantable devices segment is anticipated to grow with a CAGR of 7.47%.
On the basis of technology, the global epilepsy devices market has been classified as vagus nerve stimulation, responsive neurostimulation, deep brain stimulation, and accelerometry. The vagus nerve stimulation segment dominated the global epilepsy devices market in 2019 based on technology. Its large share of 45.9% is attributable to rising importance in helping control seizures.
On the basis of seizure detection and prediction devices, the global epilepsy devices market has been classified as electroencephalogram, intracranial EEG, surface electromyography, electrodermal activity, electrocardiography, video detection systems, implanted advisory systems, and others. The electroencephalogram (EEG) segment dominated the global epilepsy devices market in 2019. Its large share of 24.0% is attributable to its rising preference and capability of early detection of epileptic seizures.
On the basis of end use, the global epilepsy devices market has been classified as hospitals & clinics, neurology centers, home care settings, and others. The hospitals & clinics segment dominated the global epilepsy devices market in 2019. Its large share of 52.3% is attributable to rising therapeutic treatment procedures in clinics.
Global Epilepsy Devices Market Share, By Region, 2019 (%)
Source: MRFR Analysis
Global Epilepsy Devices Market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas is likely to dominate the global epilepsy devices market owing to the large number of companies operating in the region. In 2019, the Americas accounted for a considerable market share of 40.3% in the global epilepsy devices market. Other factors attributed to this large market share are government regulations and the growing healthcare expenditure in the region.
Europe held a substantial share in the global epilepsy devices market. The epilepsy devices market in Europe is expected to propel during the forecast period, owing to factors such as availability of reimbursement, growing geriatric population prone to epilepsy, and technological advancements in therapeutic devices. In addition, the presence of highly developed healthcare infrastructure and the research funds from governmental organizations is expected to have a positive impact on the European epilepsy devices market. The EU has made major investments to support cross-border and interdisciplinary research for rare diseases. More than USD 1.70 billion has been made available from Horizon 2020 for 200 or more collaborative research and innovation projects on rare diseases.
The fast growth of the Asia-Pacific region is due to the rising population, increasing number of patients suffering from epilepsy, the rising awareness about the available treatment options and strategic decisions by key players operating in the region. For example, Nihon Kohden (Japan) launched its NK-HealthProtect wireless surge solution, which is a package of patient monitors, software, and hardware designed to be deployed when a hospital’s emergency department experiences a surge in patients.
The market for epilepsy devices is growing in the Middle East and Africa (MEA) due to increasing product launches in the region. For instance, in 2017, Epilert (US), a start-up by three Tunisian entrepreneurs, launched a bracelet that automatically alerts friends and family about the seizures. A study approved by the Research Ethics Committee of Taif University, Saudi Arabia, on 15/09/2019 estimated the prevalence rate of epilepsy in Saudi Arabia at 6.54 per 1,000 people.
The Prominent Players in the Global Epilepsy Devices Market are Boston Scientific Corporation, Medpage Ltd. (Easylink UK), Cerbomed GmbH (TVNS Technologies GmbH), Liva Nova (Cyberonics), Compumedics, Nihon Kohden, MC10, Empatica, Inc, Medtronic Plc, Neuropace, Inc, and Natus Medical Incorporated.
Global Epilepsy Devices Market, By Product Type
Global Epilepsy Devices Market, By Technology
Global Epilepsy Devices Market, By Seizure Detection and Prediction Devices
Global Epilepsy Devices Market, By End User
Global Epilepsy Devices Market, By Region
Available Additional Customizations
This table of content is tentative and subject to change as the research progresses.
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